Moonbeam’s standard GLMR migration window closed last night at 23:59 UTC (July 31), as its Polkadot network moved into an operational wind-down ahead of a relaunch on Base.
The cutoff ended the standard route for self-custodied free balances, while exchange holdings, frozen balances, and protocol positions remained subject to separate handling.
The official migration locked GLMR on Moonbeam and released the same amount from a reserve minted in advance on Base, sending tokens to the same user address at a 1:1 rate.
At 20:20 UTC on July 31, less than four hours before the cutoff, the migration contract held about 308.183 million GLMR. Total issuance was about 1.241 billion GLMR, putting direct-bridge uptake at 24.83% at that timestamp.
The remaining 75.17% covers a mix of free holdings, exchange custody, staking, treasury, and other balance categories. Exchange processing and snapshot-covered locked balances followed separate routes, so the contract ratio cannot measure stranded or at-risk supply.
How the cutoff affected GLMR holders
Before the deadline, Moonbeam told users to withdraw funds from liquidity pools, lending markets, staking, crowdloans, governance locks, and other protocols where possible before bridging. The project’s July 3 announcement warned that funds left deployed in on-chain protocols may become inaccessible after the network wound down. Its support guidance said the bridge processed only free balances.
For staking and crowdloan balances frozen at the cutoff, Moonbeam said it would honor them on Base if a holder met Moonbeam’s account-signature and snapshot requirements. Its public guidance did not extend the same explicit commitment to arbitrary governance locks, DeFi positions, or unclaimed rewards.
After the standard bridge closed, the migration portal directed late holders to email the helpdesk for individual review. Moonbeam had not published a universal late bridge or public post-cutoff claim portal. Individual review therefore remained discretionary, with no public guarantee that every balance could be recovered.
Exchange handling varied. KuCoin said it would automatically convert GLMR balances held on its platform at 1:1. Bybit announced its GLMR network migration and cutover schedule separately. Exchange-held balances followed each venue’s process rather than the direct migration-contract route.
Under Moonbeam’s published wind-down schedule, the network entered maintenance mode at 00:00 UTC on Aug. 1 and began rejecting transactions. Moonscan’s notice said blocks would continue during the operational wind-down. User-directed transactions ended at the cutoff while block production continued.
Be the first to comment